44 CFR 61.17 - Group Flood Insurance Policy.
(a) A Group Flood Insurance Policy (GFIP) is a policy covering all individuals named by a State as recipients under section 408 of the Stafford Act ( 42 U.S.C. 5174) of an Individuals and Households Program (IHP) award for flood damage as a result of major disaster declaration by the President.
(d) The term of the GFIP is for 36 months and begins 60 days after the date of the disaster declaration.
(e) Coverage for individual grantees begins on the thirtieth day after the NFIP receives the required data for individual grantees and their premium payments.
(f) We will send a Certificate of Flood Insurance to each individual insured under the GFIP.
(g) The GFIP is the Standard Flood Insurance Policy Dwelling Form (a copy of which is included in Appendix A(1) of this part), except that:
(1) VI. DEDUCTIBLES does not apply to the GFIP. A special deductible of $200 (applicable separately to any building loss and any contents loss) applies to insured flood-damage losses sustained by the insured property in the course of any subsequent flooding event during the term of the GFIP. The deductible does not apply to:
(i) III.C.2. Loss Avoidance Measures; or
(ii) III. C.3. Condominium Loss Assessments coverage.
(2) VII. GENERAL CONDITIONS, E. Cancellation of Policy by You, does not apply to the GFIP.
(3) VII. GENERAL CONDITIONS, H. Policy Renewal, does not apply to the GFIP.
(h) We will send a notice to the GFIP certificate holders approximately 60 days before the end of the thirty-six month term of the GFIP. The notice will encourage them to contact a local insurance agent or producer or a private insurance company selling NFIP policies under the Write Your Own program of the NFIP Standard Flood Insurance Policy, and advise them as to the amount of coverage they must maintain in order not to jeopardize their eligibility for future disaster assistance. The IHP program will provide the NFIP the amount of flood insurance coverage to be maintained by certificate holders.